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3.2 Background Literature

A. Definition of Corporate Reputation

A good reputation can be an asset to an organization, and it is very important and challenging to maintain a good reputation. Basically, the reputation that can be defined as the received “image” is the holistic impression that internal and external stakeholders have to the firm [11]. Keating [13] argued that the corporate reputation is basically about how exactly consumers, suppliers, employees, and even industry sectors see a company. Towards An Integrated View.

Based on the six broad schools of thought, Fombrun and van Riel [14] argue that if one combines the predominant views, then the reputation incorporates both social responsibilities and economic performance. They offer an appropriate definition of corporate reputation, which has been adapted for use in this study:

A corporate reputation is a collective representation of a firm's past actions and results that describes the firm's ability to deliver valued outcomes to multiple stakeholders. It gauges the firm's relative standing both internally with employees and externally with its stakeholders, in both its competitive and institutional environments. [11]

B. The Reputation in SME Industry

Small businesses have received limited attention from those researchers in corporate reputation. In SME industry, the corporate reputation comes from providing value to key stakeholders, such as shareholders, customers, staff, and the wider community [7, 15]. It is socially constructed by actors within and outside the organization [15]. Besides, the business founder shapes or lays the foundations for corporate identity, by way of example to employees, leadership style, and their attitude. Previously, the definition of corporate reputation has been viewed by six broad schools of thought, but referring to the SME sector, there are four different definitions that came from four discourses as stated by La¨hdesma¨ki and Siltaoja [16]. These discourses vary from one another in their illustration of reputation as an economic resource, as a social recognition from the community, as a control mechanism, or as a risk to the owner-manager's personal reputation, hence constructing a reputational framework in the small business context from the owner-managerial perspective.

C. Measuring the Corporate Reputation

A wide range of applied measurement tools are created that simulate to assess corporate reputations. Utmost is being identified requiring from one way or another

[14, 17]. The RepTrak™ Pulse is an emotion-based way of measuring the corporate reputation construct that untangles the drivers of corporate reputation from dimensions of the construct itself [18]. According to the Reputation Institute [19], the RepTrak™ Pulse measures the degree of admiration, trust, good feeling, and overall esteem that stakeholders hold about the company. The RepTrak™ Pulse is the beating heart of a company's reputation which provides an overall review of the strength of a company's reputation [20]. The RepTrak™ model comprises of seven dimensions which have been identified from qualitative to quantitative research to explain the reputation of a company globally (Forbes.com). The seven dimensions consist of products/services, innovation, workplace, governance, citizenship, leadership, and financial performance [20].

 
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